Estate Planning

Estate planning is about structuring your investments and personal assets to provide for your family. The first step is ensuring you have a current and valid will. Despite a will being a simple document to prepare, many people die without having made a will, or die leaving a will that is out of date and which does not accurately reflect their current circumstances.  A will determines, among other things:

  • who will be in charge of the administration of the estate; and

  • how the assets of the estate are to be distributed after death.

More Than a Will

While a will is certainly important to your estate plan, it is not the only consideration. You should also think about:
  • Powers of Attorney
  • Medical directives
  • Testamentary trusts
  • Business succession planning
  • Estate Planning and Superannuation
Without sufficient planning, the trustee of your superannuation fund has discretion as to the treatment of any death benefits from your super.  A binding death nomination ensures your wishes are fulfilled in the payment of benefits to your preferred beneficiaries.

Implications for SMSFs

As trustees and members, you effectively have ultimate control in the distribution of death benefits within your self managed super fund. It is important you prepare a strategy for the payment of benefits to members, chosen beneficiaries and incorporate the facilities to implement this strategy in your trust deed. It will be necessary to make preparations for the wind-up of the fund in the event of the deaths of all trustees and members.

A wealth of experience in estate planning

What is estate planning?
Is estate planning just about making a Will?
What is a Will?
Why do I need to make a Will?
What are the advantages of having a Will?
What is a Power of Attorney?
Is it true that a person’s debt dies with them?
How do I make a Will?
What should I consider when I make a Will?
How often should I update my Will?
If I don’t have a Will, doesn’t everything just go to my partner?
What happens to my super when I die? Is it not just dealt with under my Will?
As I have my own business with business partners, what happens to my part of the business if I die?
Is there anything I can do to protect my estate?

How we can help

As part of a good, comprehensive financial plan, we generally recommend that you establish a Will to express your wishes for what happens to your assets after you die.If you have a Will, we will usually recommend you review it regularly to keep it up-to-date with your circumstances. We can’t advise you on inheritance laws or write the Will for you. However, we can advise the social security benefits that could benefit your family after you die.

What to do next

If you want us to help you review your options  Contact Us today.


Estate Planning